In a turbulent year marked by the impact on the markets of the coronavirus, there has been no lack of opportunities to obtain good returns. And one of the most active markets has been that of cryptocurrencies.
Massive injections of liquidity orchestrated by central banks to combat the virus triggered fear of inflation and forced investors to seek protection in safe-haven assets such as gold or digital currencies.
The most popular on a global scale is bitcoin, which rises in 2020 by 42%, but it is not the one that appreciates the most. The first position in the ranking by profitability among the digital currencies with the largest capitalization is for the crypto.com coin, which soars 340.3%. Massive Advertising Campaign Shoots crypto.com Coin
It is a digital currency promoted by the company Crypto.com, founded in 2016 and based in Hong Kong. It is specialized in means of payment and its products include the application crypto.com wallet
It is a digital banknote to buy, sell and pay with cryptocurrencies. It allows its users to have under control not only their stocks of the crypto.com coin, but of the rest of digital currencies.
What else to read? Bitcoin. First buy signal since the March collapse
Building on increased risk appetite following the recovery that followed markets plunged in March, the company launched an unprecedented advertising campaign. User loyalty is the main objective
They encouraged investors to accumulate their currency by offering all kinds of promotions, discounts and sweepstakes.
In August, Crypto.com announced that it will allow crypto.com coin holders to buy bitcoin at a 50% discount. He also organized a sweepstakes that offered $50,000 in bitcoin for liking or retweeting his posts.
In addition, he created a referral program that offers those who recommend the company to their friends rewards of up to $2,000 in crypto.com coins, as long as the referral invests in the token. The results are amazing
And the results are amazing. It is already the eighth cryptocurrency by capitalization and has multiplied its price by seven so far this year.
“They’re throwing the house out the window to try to generate a higher value for the token,” said Vishal Shah, an expert at crypto asset firm Alpha5.
What else to read? Ethereum: the great hope of cryptocurrencies
The company made a name for itself with Visa debit cards, which were approved in November by Wirecard. But the accounting scandal that toppled the German group has forced Crypto.com to migrate away from Wirecard in both Asia and Europe.Chainlink, an example of the ‘boom’ in decentralized finance.
Chainlink is a decentralized network developed by Oracle whose goal is to drive the use of smart contracts in the real economy.
The cryptocurrency of this network, which is used to remunerate node operators, has benefited from the ‘boom of the so-called ‘Decentralized Finance’ (DeFi).
In fact, Chainlink has become the largest source of decentralized data, allowing smart contracts to securely access external data sources. Chainlink capitalization gets a strong boost
The thing is, all DeFi apps need some sort of pricing information, and Chainlink is the platform that leads these supplies.
It gets data from external sources and incorporates it into the blockchain, so that smart contracts are activated.
Chainlink started the year trading at a price slightly below $2 and is now trading above $8. This boosted its capitalization to 2,943 million dollarsEthereum gets on the bandwagon of decentralized finance
The third place for profitability is for Ethereum, a blockchain platform born in 2014 that was a small revolution, by entering fully into the concept of digitized property.
The great contribution of Ethereum is that it allows the execution of complete software programs, but always in a distributed way, that is, with the same properties as bitcoin transactions.
That is, decentralized, impossible to be censored, secure and with immutable code. As with Chainlink, Ethereum has been greatly favored by the recent ‘boom’ of DeFi technologies. In fact, Chainlink operates with smart contracts issued on Ethereum.Smart contracts represent a key advance
The programs that are executed are the so-called ‘smart contracts’ or smart contracts. They represent a key step forward, as they open the possibility of being able to ‘program money’, which in turn is the previous step to a new reality, the digitalization of property.
To boost the network, the platform created its own cryptocurrency, ether (ETH), which is what is mined so that there is an economic incentive to be part of the network.
These aspects are what have made Ethereum one of the most popular platforms, and in turn have boosted the Ether.La data protection drives the latest rally of ether
In addition, the latest rally has been supported by Ethereum’s role as a tool to give web users greater control over their personal information.
This has happened just as 5G infrastructure and Internet of Things data flows will continue to make it necessary to increasingly strengthen privacy and access to data.
Without going any further, the United States Postal Service has just incorporated Ethereum into a patent on voter protection technologies. Bitcoin increases its attractiveness as a refuge
In the group of the most profitable digital currencies are other currencies such as cardano (129.9%), Binance Coin (66.6%) or bitcoin SV (64.9%).
But you have to go to the eighth position to find bitcoin, the most traded and popular cryptocurrency in the world.
Like the rest of the assets, it suffered a hard collapse in March because of the coronavirus, but before August began it had already recovered all the fall. Increases the interest of large investors in bitcoin
In fact, some technical indicators have just given the first buy signal since the March collapse, amid growing interest among investors.
What else to read? Fidelity launches a bitcoin fund for VIP clients
As happened to gold, bitcoin has benefited from massive liquidity injections, which have increased the risk of inflation soaring. And investors have seen it with a haven.
The first swords of Wall Street have seen the reef. This is the case, for example, of Fidelity, one of the most important managers in the world, which recently launched a fund for VIP clients. The best cryptocurrencies in 2020
